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Germany has no plan to sell Deutsche Telekom shares

The German finance ministry rejected a magazine report on Friday that the government plans to sell shares in Deutsche Telekom.

PHOTO: AFP

[BERLIN] The German finance ministry rejected a magazine report on Friday that the government plans to sell shares in Deutsche Telekom.

A finance ministry spokesman said a report by the German WirtschaftsWoche magazine was misleading, adding that all holdings of the government were under review, but that did not mean a sale of Telekom shares was planned.

WirtschaftsWoche reported on Thursday that the German government was sticking to its aim of gradually reducing its stake in Deutsche Telekom, citing the finance ministry.

Berlin holds 14.5 per cent of Deutsche Telekom directly, with a further 17.5 per cent held by the government-owned KfW development bank.

Deutsche Telekom shares were down 0.5 per cent by 0856 GMT on Friday, slightly underperforming the blue-chip DAX, which was down 0.3 per cent.